11-25-2012 01:30 PM - edited 11-25-2012 01:57 PM
Just wanted to let everyone know that reporting of a new address dropped by Equifax score 1 point for 806 to an 805. Can anyone explain to me why this would happen?
11-25-2012 01:41 PM
Must have been something else on your report causing the drop. I've never seen a change in scoring due to a address change.
I have Scorewatch through MyFico and received a score change notice. It dropped from 806 to 805, with the reason that a new address was reported on my credit report.
11-25-2012 01:53 PM - edited 11-25-2012 01:56 PM
This is what Scorewatch said:
"The decrease in your FICO score happened on the same day as a change on your Equifax Credit Report triggered an alert. Most likely, the decrease was caused by the credit report change, but this is not always the case. Your score may have dropped because of some change on the credit report that was not reported as an alert. Also, if multiple changes on the credit report happened on the same day, some may have helped the score while others hurt it."
Then the next box said: "Your current address has changed on your credit file."
This was the only thing reported.
I would try and cut and past a photo or Snag-It but it won't let me paste it in the post.
11-25-2012 03:01 PM
I have never heard of a change of address causing a score change. Weird. Did you move to a riskier neighborhood? Lol!
11-25-2012 04:26 PM
OP, the address didn't change your EQ FICO. You received a credit alert and as part of SW, it will grab your latest FICO score. Just like it says in the alert, the score change doesn't always occur as a result of that credit change. Your score change is just a net change after the last alert. For example, I once got an alert for +20 because I added an inquiry. Inquiries don't cause increases, but it was a dropped baddie that SW doesn't alert to that changed my score. And of course addresses and other demographic info aren't a part of FICO scoring anyway. Your change could be caused by any number of things like changes in util.
11-26-2012 11:38 AM